Barclays PLC downgraded shares of W&T Offshore Inc. (NYSE:WTI) from an equal weight rating to an underweight rating in a report published on Monday. They currently have $1.00 price target on the stock, down from their previous price target of $2.00.
Separately, Zacks Investment Research upgraded shares of W&T Offshore from a hold rating to a buy rating and set a $2.25 price objective on the stock in a report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $2.19.
W&T Offshore (NYSE:WTI) opened at 1.50 on Monday. The firm’s market cap is $114.71 million. W&T Offshore has a 12-month low of $1.23 and a 12-month high of $4.00. The firm’s 50-day moving average is $1.65 and its 200 day moving average is $2.01.
W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.22. The company had revenue of $99.70 million for the quarter, compared to analysts’ expectations of $102.64 million. The company’s revenue was down 33.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.54) earnings per share. Equities research analysts predict that W&T Offshore will post ($2.16) EPS for the current year.
In other news, Director Virginia Boulet acquired 16,700 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were bought at an average price of $1.59 per share, for a total transaction of $26,553.00. Following the completion of the purchase, the director now directly owns 116,104 shares of the company’s stock, valued at approximately $184,605.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 54.08% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Retirement Planning Group raised its stake in W&T Offshore by 250.0% in the first quarter. Retirement Planning Group now owns 70,000 shares of the company’s stock worth $153,000 after buying an additional 50,000 shares in the last quarter. California Public Employees Retirement System raised its stake in W&T Offshore by 4.7% in the second quarter. California Public Employees Retirement System now owns 1,992,067 shares of the company’s stock worth $4,622,000 after buying an additional 90,300 shares in the last quarter. Icon Advisers Inc. Co. purchased a new stake in W&T Offshore during the second quarter worth about $1,910,000. Spark Investment Management LLC raised its stake in W&T Offshore by 112.5% in the first quarter. Spark Investment Management LLC now owns 960,500 shares of the company’s stock worth $2,103,000 after buying an additional 508,500 shares in the last quarter. Finally, State Street Corp raised its stake in W&T Offshore by 5.7% in the first quarter. State Street Corp now owns 633,781 shares of the company’s stock worth $1,390,000 after buying an additional 34,373 shares in the last quarter. Institutional investors own 26.01% of the company’s stock.
About W&T Offshore